The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-08-25
CONDITION OF THE MARKETS
The Weather Inspires the Bears" and
Free Selling Is the Order of the Day.
Small Business in Wheat. the Market Closing
at the Lowest Figures of the Session--Corn
Active on Chiefly Local Trading.


the "Bears" In Full Possession of the Mar
Beethoven Prices for Everything.
NEW YORK. Aug. 24-Money call was easy
vt to 81 per cent. the last loan being made at T.
closing offered at 2
Prime mercantile paper, 81 a 81 per cent.
Sterling exchange dull but steady at 81. 500
for sixty-day bills, and "a. s22 for demand.
The total sales Of stocks to-day were 240, 426
shares, including the following Delaware,
Lackawanna & Western. 10000; Erie, 1910;
Lake Shore, 1900; Louisville 81 Nashville, G. TO;
Missouri Pacific. 9,275; Northwestern, 10,085;
Northern Pacific preferred. 4125; Oregon &
Transcontinental, $50; Pacific Mail, 2,770;
Reading, &c. 10o ST. Paul, sc, $40; Western Union.
1905.
The stock market again fell into the hands of
the "bears" to-day aad semblance of yes
terday's frmness. was to be at any time,
che range of values being decidedly lower through
out. Dullnes and weakness were the principle
features and the dealings showed at times con-
Siderable feverishneSs. The attacks were be-
run promptly at the opening, Missouri Pacific
and Lackawana being the principal objective
points early in the day, while Richmond q
West Point and Lake Erie & y ester2 preferred
were most prominent later in the decline.
There was the usual deafth Of news. but ru-
n1ors of prominent houses being in trou ole, with
the regular reiteration OF the Missouri Pacific
dividend reduction story, had some effect upon
a Stock Exchange house gave color to these ru-
xnors and prevented the improvements which
had been started by tae announcement OF the
acceptance of bonds by the Secretary of the
Treasury. At the same time fresh rumors of i'm
pending trouble in the dry goods district were
circulated with some effect There was little
or no effort to support prices, the buying being
scattering and Ineffective, while the 'bears"
were specially active and aggressive. There
was a weak opening, at declines extending to
Per cent from yesterdays final figures. There
was some strength displayed in the early trad
ing but the marker soon weakened, and, under
the lead of Missouri Pacific and Lackawanna,
moved off rapidly until 11:30, when, by sharp
rally, prices brought up in most cases to
about first figures. Shortly after noon the at
facks were renewed and met with no check
til nearly 2P. NJ, when there was a slight rally.
but in the last hour the selling was specially
heavy in Richmond 81 West Point, New En-
gland, Reading and the Changers. and the close
was weak though dull at the lowest prices of the
day. Everything is lower tonight without ex-
ception, the principal losses being Lake Erie
and Western preferred. 3; Richmond 81 West
Point, 24 Missouri Pacific, p; Northern Pacific
preferred, 81 Colorado Coal. 2; Pacific Mail and
C., C., G. e. l., II; Lackawanna, IL; Northwestern
md New England, Il; Jersey Central and Read
Ing, IL; Louisville & Nashville, l, and others
fractional amounts.
Railroad bonds were still duer than usual to-
nay, the total sales of all issues amounting to
only $3.50 900, OF which $500, 000 Atlantic Sc
Pacific incomes, which suddenly sprang into ac-
tivty.
pent absolutely no feature OF interest. and
ehanges in quotations were small and unimpor
tant but among those which displayed ANNA
ton prices were weak throughout and material
declines were established Northwestern coupon
gold bonds lost 24, to 126; Indiana, Blooming
ton & Western first certificates, 2, at 80; Mem
phis g. Charleston, o. 2, at 100; Chattanooga
firsts, 9, at 126: Richmond rs Allegheny trust
receipts. p, at 62; Atlantic & Pacific incomes
2, at 272.
Government bonds wers firmer for the fours,
but heavy for the four-and a halfs.
State bonds were entirely neglected. Closing
quotations